Carbon offsets is a commodities creation disguised as an 'environmental plan' and rigged for people like Goldman Sachs-Rolling Stone

11/29/10, "European Climate Exchange chief Patrick Birley defends the carbon trading system," UK Telegraph, Rowena Mason

""Carbon-related products are probably the most profitable part of trading for any of the investment banks right now, because the margins are so good," Mr Birley admits....

• "People don't trade carbon because they are good people," exclaims Patrick Birley, the chief executive of the ICE European Climate Exchange, with characteristic bluntness."...

Taibbi, Rolling Stone, 7/2/09: "a groundbreaking new commodities bubble,

• disguised as an "environmental plan" called
• cap-and-trade.

The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman,

• except it has one delicious new wrinkle:

If the plan goes forward as expected, the rise in prices

• will be government-mandated.

• Goldman won't even have to rig the game.

• It will be rigged in advance."
  

from Rolling Stone article by Matt Taibbi, "The Great American Bubble Machine: How Goldman Sachs has Engineered Every Major Market Manipulation Since the Great Depression" 7/02/09

• Reference, "Goldman Sachs Buys into Carbon Offsets," 11/12/08 NY Times Green, Inc. Blogs

• "Street Cred: Goldman Sachs Buys into Carbon Credit Developer," 10/27/08, WSJ Blogs

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